Assembly Bill A9631

2017-2018 Legislative Session

Eliminates the requirement that certain minority and women-owned business enterprise owners have a personal net worth of less than three million five hundred thousand dollars in order to obtain certification; rep

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Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A9631 (ACTIVE) - Details

See Senate Version of this Bill:
S7243
Current Committee:
Assembly Governmental Operations
Law Section:
Executive Law
Laws Affected:
Amd §§314 & 310, rpld §310 sub 19, Exec L
Versions Introduced in Other Legislative Sessions:
2015-2016: S7865
2019-2020: A2987

2017-A9631 (ACTIVE) - Summary

Eliminates the requirement that certain minority and women-owned business enterprise owners have a personal net worth of less than three million five hundred thousand dollars in order to obtain certification as a certified minority and women-owned business enterprise; clarifies that an individual's net worth is to be considered in determining eligibility for certification under article 15-A of the executive law.

2017-A9631 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9631
 
                           I N  A S S E M B L Y
 
                             January 26, 2018
                                ___________
 
 Introduced by M. of A. BICHOTTE -- Multi-Sponsored by -- M. of A. BLAKE,
   HOOPER,  HYNDMAN,  SEAWRIGHT,  SEPULVEDA, SOLAGES, WALKER -- read once
   and referred to the Committee on Governmental Operations
 
 AN ACT to amend the  executive  law,  in  relation  to  eliminating  the
   requirement  that certain minority and women-owned business enterprise
   owners have a personal net worth  of  less  than  three  million  five
   hundred  thousand dollars in order to obtain certification as a quali-
   fying minority and women-owned business enterprise; clarifying that an
   individual's net worth is not to be considered in  determining  eligi-
   bility  for certification under Article 15-A of the executive law; and
   to repeal subdivision 19 of section 310 of the executive law  relating
   to the definition of personal net worth
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraphs (v), (vi)  and  (vii)  of  paragraph  (a)  of
 subdivision 2-a of section 314 of the executive law, as amended by chap-
 ter 175 of the laws of 2010, are amended to read as follows:
   (v)  be  subject to a physical site inspection to verify the fifty-one
 percent ownership requirement; AND
   (vi)[be owned  by  an  individual  or  individuals,  whose  ownership,
 control and operation are relied upon for certification, with a personal
 net  worth  that  does  not  exceed  three million five hundred thousand
 dollars, as adjusted annually for inflation according  to  the  consumer
 price index; and
   (vii)]  be an enterprise that is a small business pursuant to subdivi-
 sion twenty of section three hundred ten of this article.
   § 2. Paragraphs (e) and (f) of subdivision 7 of  section  310  of  the
 executive law, as amended by chapter 22 of the laws of 2014, are amended
 to read as follows:
   (e) [an enterprise owned by an individual or individuals, whose owner-
 ship,  control  and  operation are relied upon for certification, with a
 personal net worth that does not exceed three million five hundred thou-
 sand dollars, as adjusted annually on the first of January for inflation
 according to the consumer price index of the previous year; and

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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